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Which Oilfield Services Stocks Led in Short Interest?

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Oilfield services stocks with high short interest

On August 9, 2016, CARBO Ceramics (CRR) had the highest short interest-to-equity float ratio among OFS (oilfield services) stocks (OIH). The company’s short interest-to-equity float ratio was 36.9%. One month ago, its short interest-to-equity float was 39.3%. Three months ago, it was 39.8%. In the last three months, the stock has returned 23.5%. It reported operating losses in the last four quarters. Its cash and cash equivalents were $41.5 million as of 1Q16.

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Tidewater saw the biggest fall

Currently, Tidewater’s (TDW) short interest-to-equity float ratio is 32%. One month ago, it was 29.5%. Three months ago, it was 24.6%.

In the last three months, Tidewater has fallen 39.3%—the most among OFS stocks. You can see this in the above table—it shows OFS players with high short interest. Its net debt-to-EBITDA (earnings before interest, tax, depreciation, and amortization) ratio is 6.5x. Its cash and cash equivalents are $678.4 million.

Transocean’s (RIG) short interest-to-equity float is 25.0%. One month ago, it was 26.5%. Three months ago, it was 27%. Its net debt-to-EBITDA ratio is 1.8x. Its cash and cash equivalents were $2.9 billion in 1Q16. In the last three months, the stock rose 7.5%.

Diamond Offshore Drilling’s (DO) short interest-to-equity float ratio is 24.2%. One month ago, it was 25.9%. Three months ago, it was 23.8%. In the last three months, the stock has fallen 9.2%. Its net debt-to-EBITDA ratio is 2.0x. Its cash and cash equivalents were $129 million in 1Q16.

Helmerich & Payne’s (HP) short interest-to-equity float ratio is 23.5%. One month ago, it was 24.5%. Three months ago, it was 22.6%. Its net debt-to-EBITDA ratio is -0.2x because it has cash in excess of debt. Its cash and cash equivalents were $898 million in 1Q16. The stock has risen 6.9% in the last three months.

Rowan Companies (RDC) and Noble (NE) have short interest-to-equity float ratios of 17.0% and 14.8%, respectively.

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